Which of the Following Is Not a True Statement Relating

question 62

Multiple Choice

Which of the following is not a true statement relating to the Treadway Commission?

• A)The Treadway Commission is the popular name for the National Commission on Fraudulent Reporting.
• B)The Treadway Commission has released reports detailing internal control systems.
• C)Management's Report on Internal Control over Financial Reporting and the independent public accounting from report to the shareholders and board of directors often refer to criteria established on internal control by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).
• D)The Treadway Commission has issued a number of recommendations for the prevention of fraud on financial reports,ethics,and effective internal controls.
• E)The Treadway Commission is a voluntary-sector organization formed to support the Sarbones-Oxley Act.

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Definitions:

Owners

Individuals or entities that have legal possession and control over a business or property.

Capital Account

The section of a nation’s international balance of payments statement in which the foreign purchases of that nation’s assets and that nation’s purchases of assets abroad are recorded.

Balance

This term can refer to the difference between total debits and total credits in an account, or to achieving a state of equilibrium in various contexts such as financial planning, work-life balance, etc.

Payments

Payments are the transfers of money or the consideration of goods or services from one individual or entity to another.